Current Affairs: August 10

Rajras Current Affairs August 10           

NEWS: PM flags off Tiranga Yatra to mark launch of 70^th Independence Year Celebrations

• Where: At birthplace of Chandrashekhar Azad, at Bhabra in Alirajpur District of Madhya Pradesh.
• Tiranga Yatra shall be organised from 16 to 23 August 2016 across the country to mark 70 years of Independence. I
• A theme song 70 Saal Azadi Yaad Karo Kurbani, composed by Dr. Ghazal Srinivas was also been released on the ocassion.

PM also launched Yaad Karo Kurbani Campagn

• Yadd karo Kurbani is 15-day program aimed to commemorate 75th anniversary of the Quit India Movement (QIM) and 70 years of Independence.

History: August 8 – Launch of Quit India Movement

• Also called as August Kranti or Bharat Choddho Andolan
• Type: Civil Disobedience Movement
• Reason: April 1942 – Cripps Mission had failed,
• Start: On 8 August 1942, at the Gowalia Tank Maidan, Gandhiji made a call to Do or Die in his Quit India speech and launched Quit India Movement.
• All India Congress Committe (AICC) launched mass movement
• 9 August – All top Congress leader including Gandhi Ji arrested.

NEWS: TOP assisted athletes who could not qualify 2016 Olympics, taken out of scheme.

• TOP Scheme: Target Olympic Podium
• Valid for: 2016 & 2020 Olympics
• What: 157 athletes have been selected to provide assistance under the Target Olympic Podium (TOP) Scheme under the ambit of National Sports Development Fund (NSDF).
• How athletes are identified: Elite Athletes Identification Committee, headed by Anju Boby George, identifies the athletes. Other members Shri Pullella Gopichand and Ms. M C Mary Kom.

RBI releases 3^rd bi-monthly Monetary Policy Review

Key Reserve Ratio’s:

• Cash Reserve Ratio (CRR): 4%
• Statutory Liquidity Ratio (SLR): 21%

Key Policy Rates:

• Repo rate under the liquidity adjustment facility (LAF): 6.5%.
• Reverse repo rate under the LAF: unchanged at 6 %.
• Marginal standing facility (MSF) rate: 7%.
• Bank rate: 7%

RBI has not changed key rates. Why?

• The main reason why RBI has not changed interest rates is because India’s consumer price inflation (CPI) rose(increased) to 22 month high of 5.77 % in June. Further last week, the Monetary Policy Framework, signed by RBI and government, retained inflation target at 4 % or margin of plus & minus 2 percentage points. (See details in August 9 Current Affairs)
• Implementation of recommendations of 7^th pay commission is going to increase income and create further inflation.
• Hence, RBI did not have margin for reduction of rates.

Remember:

• Income increases  (leads to)→ Inflation Increases (leads to) → RBI increases Rates (to counter inflation)

August 9: International Day of the World’s Indigenous People

• To promote and protect the rights of the world’s indigenous population.
• 2016 Theme: “Indigenous Peoples’ Right to Education”.

Maharashtra Government – launched Quit India Movement:2 against social evils

• Maharashtra state Government launched Quit India2 -Swaraaj to Suraaj Movement
• Where: At August Krani Maidan, Mumbai
• Trivia: On August 8, 1942, Gandhi Ji gave call for Quit India Movement from the same ground. Then it was called Gowalia Tank Maidan
• Now what is Quit India 2 Swaraaj to Suraaj Movement
• It is a movement to get rid of social evils from society including farmer suicide, illiteracy, wastage of water, malnutrition, addiction among youth and corruption in order to achieve faster all-inclusive progress on all fronts.

NEWS: India approaches US and European FATF countries to crack terror fund trail from Pakistan

• India has identified Al Rehmat Trust as the financer of terrorist outfit Jaish-e-Mohammad (JeM) that is responsible for Pathankot airbase (in Punjab) attacks.
• So, India has approached US and select European countries that are part of the Financial Action Task Force (FATF) to crack terror fund trail details of the Al Rehmat Trust from Pakistan.
• What is FATF?
  • FATF was established in 1989 during the Paris-G7 Summit to combat the increasing problem of money laundering.
  • Secretariat is at OECD headquarters in Paris.
  • Currently, FATF includes over 35 countries including India and 2 regional organizations.
  • FATF definition- FATF is an inter‐governmental policy-making body with mandate to establish international standards for combating money laundering and terrorist financing.

Rajya Sabha: Passed Mental Health Care Bill, 2013

• PRS bill Summary
  

Lok Sabha: Passed The Employee’s Compensation (Amendment) Bill, 2016

PRS bill Summary

Parliament Passed: Enforcement of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions (Amendment) Bill, 2016

PRS Bill Summary

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